Ben Hatton A Look into Indiana’s Booming Tech Industry

April 3, 2014 by · Leave a Comment 

Last month we attended the Indianapolis Business Journal’s annual Technology Breakfast in downtown Indianapolis. In addition to the event being a great opportunity to socialize and network with others in the local tech industry, we listened to an informative and insightful panel discussion that covered a wide range of topics relevant to our industry. These primarily focused around: IBJ Technology Power Breakfast

The current state of the technology field in Central Indiana, and where it is projected to go over the next several years.

Indiana’s core strengths as a state when it comes to fostering growth for tech companies and attracting talent.

I wanted to take some time in this post to cover a few of the highlights from the panel discussion, and some of the key take-aways that we at Data Cave took from it.

IT in Indiana is growing, and in a serious way

There are many exciting statistics that speak to the fact that the technology sector in Indiana has been steadily growing over the past several years. Here are just a few of them:

  1. In the Indianapolis area, the number of computer-related jobs grew by 7.3% from 2009 to 2012. This is more than 3 times the national average of 2% for total job growth.

  2. In 2013, Forbes magazine ranked Indianapolis as one of the top 10 metro areas for technology job growth (you can see more information on that here).

  3. This job growth isn’t exclusive to just the technology industry. Out of all the companies seeing the highest IT job growth, the majority of them aren’t IT companies specifically (some examples include Indiana University, Best Buy, and Cummins).

These were just a few of the findings presented from a recent study conducted by Techpoint, an organization representing the Indiana technology industry. Their full Technology Workforce Report can be viewed here.

Indiana has a lot to offer as a state for technology

 Panel discussion

The IBJ panel discussion (image courtesy of TinderBox)

Seated from left to right:

Christopher Clapp-Bluelock
Greg Deason-Purdue Foundry
Marie Kerbeshian, PH.D-IU
Michael Langellier-Techpoint
Dustin Sapp-TinderBox
John Wechsler-Launch Fishers

The above stats are certainly a good indicator that Indiana has been a great state for growth in the technology sector, but why Indiana? The panel focused a significant amount of the discussion towards answering this question, and they answered it with reasons why Indiana is a great state for fostering IT growth:

  1. Indiana has a long and rich history of forward-thinking entrepreneurs, and the community and government has been supportive of that entrepreneurial spirit, especially in recent years.

  2. There is plenty of room for tech companies in Indiana to get started as well as grow, thanks in part to a venture capital tax credit that is available in Indiana. This has added an extra competitive edge to Indiana that some other states lack when it comes to attracting talent and investment.

  3. Many of Indiana’s top colleges, including Purdue and Indiana University, have close ties with alumni all over the country. Both of these colleges had representatives in the discussion panel, and they have been working to leverage those relationships with their alumni to create new investment and mentoring opportunities in Indiana tech. This has also helped a great deal for attracting both interest and talent to Indiana.

Our Thoughts

All in all, this was a great panel discussion to attend. It was rewarding and encouraging to hear from other Indiana business leaders about the tech industry in our area, and the positive direction it is heading. Based on what we have seen at Data Cave, we couldn’t agree more; the support of our great clients, friends, and our local community have made Central Indiana very rewarding to live and do business in, and we are excited to be a part of the state’s growing technology industry!

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